Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/ethereum/ethereum-facing-huge-hurdle-at-400/amp/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

TA: Ethereum Facing Huge Hurdle At $400, Why Buyers Are Safe

TA: Ethereum Facing Huge Hurdle At $400, Why Buyers Are Safe

Ethereum

Ethereum surged over 5% and it even spiked above the $400 resistance against the US Dollar. ETH price is struggling to clear the $400 resistance, but is remains well supported.

Ethereum Price Turns Green

Ethereum followed bitcoin’s rally and started a strong rally above the $380 resistance. ETH price broke the $385 and $392 resistance levels to move further into a positive zone.

The upward move was such that ether price even spiked above the $400 resistance. A new monthly high was formed near $402 and the price is now trading well above the 100 hourly simple moving average.

After a rejection above the $400 level, there was a sharp downside correction. The price broke the $395 level, and the 23.6% Fib retracement level of the recent rally from the $376 swing low to $402 high. The price even tested the $390 support level.

Source: ETHUSD on TradingView.com

It seems like there is a key connecting bullish trend line forming with support near $392 on the hourly chart of ETH/USD. The next major support is near the $390 level since it is close to the 50% Fib retracement level of the recent rally from the $376 swing low to $402 high.

On the upside, the $400 level is a massive resistance for the bulls. The next immediate resistance is near the $402 swing high, above which ether is likely to climb higher towards the $412 level. A clear break above the $412 resistance could open the doors for a test of $420.

Dips Likely Supported in ETH

If Ethereum fails to clear the $400 resistance level, it might continue to correct lower. The first major support is near the trend line, followed by $390.

A downside break below the $390 support level could lead the price towards the $385 support. The main support is near the $382 level (the recent breakout zone).

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly moving in the bearish zone.

Hourly RSIThe RSI for ETH/USD is still well above the 50 level.

Major Support Level – $390

Major Resistance Level – $400

Exit mobile version